Hastie Group (HST)

Hastie Group shares slumped 4.1 per cent after posting a 32 per cent fall in first-half net profit on Friday.
Hastie, which provides technical services to the building and infrastructure sectors, reported a net profit of $21.6 million for the first half of 2009-10 compared to $31.8 million in the previous corresponding period.
Hastie shares are down 22 per cent from a 12-month high of $2.25 and are still down 61.5 per cent from a record $4.55 in 2007. However, the stock has outperformed the S&P/ASX 200 Index in the past 12 months with a 70 per cent gain against the benchmark’s 48 per cent. Chief executive David Harris remains upbeat despite the disappointing half-year result. Recently, Hastie Group announced it had been awarded a $119 million contract to provide mechanical, hydraulic and medical gas services for the new Gold Coast University Hospital.